Presidential candidate Mitt Romney's wealth has focused increased scrutiny on America's trickle down fiscal policy and offshoring of wealth. Both have been to the benefit of a very small percentage of the American population. In the thirty years (with few aberrations) that American tax policy has reflected the Reagan-era economic model, we can easily measure the effects of Reaganomics. Thirty years on the road to nowhere makes an indelible mark on the map.
The U.S. tax policies of the past thirty years have heavily benefitted the wealthiest and smallest segments of the population. The infamous one-percent, the so-called job creators, have glowed in the largesse of tax policy. Contrary to the skyrocketing wealth of a few, one can easily argue that economic mobility for those on the lowest of the income ladder has stalled. This chart from The World Top Incomes Database shows the history of income distribution over the past thirty years. I added income fluctuations at approximately ten year intervals. Trickle down simply has not happened.
Join me as we look at facts and charts.
